TCS layoffs: IT companies face stock slump as shares fall up to 3%;...

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TCS layoffs: IT companies face stock slump as shares fall up to 3%; Infosys, Wipro, HCL under fire

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Tata Consultancy Services plans a workforce reduction of 2 percent, impacting approximately 12,000 jobs. This decision follows weak discretionary spending and economic concerns. The Nifty IT index experienced a dip. Other IT stocks, including Wipro and Infosys, also faced declines. TCS assures careful handling of the transition, providing support to affected employees. The company's updated bench policy faces scrutiny.

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